Over 90 financial service executives from West Africa gathered in Lagos to celebrate the new financial successes that the region has enjoyed over the past few years in an event hosted by UNEP FI’s African Task Force (ATF) and Citigroup, and co-sponsored by Oceanic Bank and Bank of Industry. The involvement of bankers, asset managers, government officials and academics from West Africa was critical in exploring the latest global developments in sustainable finance.
Participants gathered to welcome five Nigerian financial institutions as the newest UNEP FI Signatories: UBA Foundation, Oceanic Bank, Bank of Industry, Zenith Bank and Fidelity Bank. Roundtable discussions focused on climate change, carbon finance and the CDM in Africa, and environmental and social credit risk management. In addition, the results of a UNEP FI study on the barriers and drivers to commercial microfinance in Africa were released, along with case studies on innovative financing mechanisms for sustainable small and medium enterprises (SMEs).